Sydney-based superannuation ratings house SuperRatings has confirmed that the Australian superannuation industry has reached an interesting balance, with six consecutive months of losses now having been followed by six months of gains.
The SuperRatings data revealed that the median balanced option fund improved by 3.12 per cent during August, taking the three-month return to 7.49 per cent and the financial year to date return to 6.80 per cent.
However, before anyone gets too excited, the same data makes clear that for the 12 months to the August 31, returns were still down by 7.93 per cent.
The ratings house said the recovery in the market was being driven by a surging Australian share market, including the listed property sector.
Leading the top 10 balanced investment options performance table over the past five years were OSF Super — Mix 70 with a return of 7.2 per cent, Catholic Super — Balanced also with a return of 7.2 per cent, BUSS(Q) Balanced Growth with a return of 7.1 per cent, Local Super (SA/NT) Growth Option with a return of 6.6 per cent, and Telstra Super Corp Plus — Balanced with a return of 6.6 per cent.
